Adobe To Buy Figma, Collaborative App Design Platform, For $20 Billion

Credits : theusaprint.com

A $20 billion deal will be made between software behemoth Adobe and web-based collaborative creative platform Figma.

The deal would be the largest ever made by Adobe. About half of the $20 billion price is made up of cash and stock.

In 2023, Adobe anticipates the acquisition to close, pending governmental approvals and stockholder approval from Figma.

Figma, a collaboration tool for creators of interactive mobile and online applications, was founded in 2012.

Shantanu Narayen, chairman and CEO of Adobe, stated in announcing the partnership.

"Adobe and Figma working together is a game-changer and will help us realise our goal for collaborative innovation."

According to Adobe, Figma is anticipated to generate more than $400 million in total recurring income by the end of 2022. (ARR).

In its 40-year history, the Figma deal is Adobe's largest M&A transaction.